A $6.1 million off-market sale of a half-floor apartment has shattered price records for a waterfront residence in an urban hub on the Coast.
The property in the award-winning and tightly held Lorient apartment building in Maroochydore was shown to only one buyer before being snapped up.
Ray White Maroochydore agent Ari Whisson, who sold the property, said the 328sqm apartment at 401/88 Duporth Avenue represented the highest price ever paid for a half-floor apartment in Maroochydore and the highest price per square metre on the street.
“At the time the contract was signed, it was the highest sale in the suburb excluding off-the-plan transactions,” Mr Whisson said.
The property now sits as the second-highest recorded sale in Maroochydore, behind only the $9 million penthouse in the same building.
Remarkably, the same residence sold just 12 months earlier for $5 million, representing a $1.1 million increase in value. Mr Whisson said the result reflected a maturing luxury market on the Coast.
“Buyers are becoming incredibly specific. Over the last few years there were plenty of buyers and hardly any options,” he said.
“Right now slightly more owners are considering selling, which gives buyers slightly more choice.
“They no longer have the same fear of missing out and they are far less willing to compromise.
“When they see the right residence they know it will be competitive and that they will need to pay to secure it.”
The level-four apartment features three ensuite bedrooms, two living areas, a study nook and private rear balconies with views across the Maroochy River, river mouth and out to the Pacific Ocean.
Residents can also access amenities including a pool, spa, sauna, gym and private pontoon.
The private sale was made to a local family that previously owned a smaller coastal apartment and was specifically seeking a residence in the Lorient building, Mr Whisson said.
“This opportunity was shown to one buyer only. It highlights how important relationships and trust have become at this price point, with buyers and sellers wanting privacy,” he said.
Mr Whisson noted a significant shift in buyer demographics, with strong local demand now driving the prestige market.
“We are seeing a surge in Sunshine Coast owners upgrading locally,” Mr Whisson said.
“Our recent sales at $6.1 million and $9 million, along with another at $5.1 million earlier in the year, have all come from owners on these same streets.
“There are very few true riverfront sites left and residences of this calibre from reputable developers like Mosaic Property Group cannot be replaced.
“Lorient has only 15 apartments and most will never come up for sale, so when one does it is extremely sought after.”
The Lorient building, a collaboration between Mosaic Property Group and Bureau Proberts, has been widely recognised for its curved architecture that mirrors the movement of the Maroochy River, with natural materials and sculptural design.
Mr Whisson also referenced another recent sale at 2/17 The Esplanade, Maroochydore, for $3,650,000, noting premium positioning was commanding significant price premiums in the current market.
